Condo Listings, by Zip Code, Activity Between 2/26/10-3/5/10   Active condo listings in 92807: 11, Average price is $403,790; 1,564 square feet or $258.18 per square foot. Back-Up: 1, $449,000; 2,255 square feet or $199.11 per square foot. Closed: 2, Average price is $372,500; 1,252 square feet or $297.52 per square foot. No Pending Sales between 2/26/10-3/5/10.   Active condo listings in 92808: 16, Average price is $359,134; 1,238 square feet or $290.09 per square foot. Back-Up: 2, Average price is $327,000; 1,110 square feet or $294.59 per square foot. Closed: 3, Average price is $363,333; 1,211 square feet or $300.03 per square foot. No Pending Sales between 2/26/10-3/5/10.   Single Family Residence Listings, By Zip Code, Activity Between 2/26/10-3/5/10    Active SFR listings in 9280... 03/05/2010

Another Short Sale Scam in Anaheim Hills CA for 2010! As a short sale agent in Orange County CA you will come across many different scams with so call sophisticated investors. This new short sale scam that seems to be catching on is overly aggressive and overly dangerous for the listing agent.  It goes somng like this: An "Investor" calls up and says that they want to make an all cash offer on your short sale listing. Starts out sounding great! Then they proceed to tell you that they (the investor) also want to negotiate the short sale. Hmmm, now starting to sound fishy, right? From there what they say is that they intend negotiate the sale in their "Investors" name, but they want me to continue to market the property to find an end buyer. To top it all off, they will allow me to repres... 02/26/2010

The following statistics include real estate transactions for Anaheim Hills as of Friday, February 26, 2010.   Condo Listings, by Zip Code, Activity Between 2/19/10-2/26/10   Active condo listings in 92807: 10. Average price is $391, 080; 1,637 square feet or $238.90 per square foot. No Back up, Pending, or Closed Sales between 2/19/10-2/26/10.   Active condo listings in 92808: 14. Average price is $359,225; 1,214 square feet or $295.90 per square foot. Pending: 1. $369,500; 1,205 square feet or $306.64 per square foot. Closed: 3. Average price is $319,666; 1,059 square feet or $300.97 per square foot. No Back-Up Sales between 2/19/10-2/26/10.   Single Family Residence Listings, By Zip Code, Activity Between 2/19/10-2/26/10    Active SFR listings in 92807: 56, ranging from $429,000 for ... 02/26/2010

I'm listing a green home next month.  It is fabulous.  The timing is ideal because our MLS recently added the following terms: Green Certifying Body Green Certification Rating Green Year Certified Green Building Certification  Earthcraft House Energy Audit Available Energy Recovery Ventilator Environments for Living Rated FSC Certified Wood Products IAQ Tested ICF Compatibale Features Locally Sourced Building Materials Low Flow Faucets Photovoltaics Rain/Freeze Sensors Recycled Building Materials Smart Electric Meter Solar Electricity Turbines Wind Generator Windmill I'm a pro, not an amateur, so I have done several things in preparation for marketing this home.  I've checked to see if I need to be an EcoBroker to maximize their exposure - It would be nice, but I don't need the designat... 02/17/2010

Fannie Mae is offering a 3.5% incentive for buyers who purchase and close on a Fannie Mae property before April 30, 2010. The incentive covers: Closing costs The purchase of new Whirlpool appliances by Fannie Mae Or a combination of both To be eligible for the incentive: The property must close before May 1, 2010 The buyer(s) must be owner-occupants - investors are excluded Couple this great incentive with the $8,000 Federal Income Tax Credit and now you have two great reasons to buy a Fannie Mae property. Seven Gables Real Estate License #01727426 www.TheOCExperts.com www.OCBankDeals.com Direct: 714 276-7006 Fax: 714 917-2293 02/11/2010

Taylor Needs A Home! A friend of mine just celebrrated the successful close of escrow on her client's new mobile home.  They all thought the park was going to accept Taylor, but that did not happen and now Taylor needs a new home. She is 6 1/2 years old, spayed, has a computer chip (so you know she is loved), is healthy and well-cared-for.  She has been very good with their kids, their two cats and their small dog. Ideally, her new home will have a nice yard where she can chase a ball, maybe even playmates! Who are you thinking of, right now, that can give Taylor a loving home?     02/10/2010

RE/MAX Homes & Estates Pre-Foreclosure Division (714) 588 -7676 ∙  www.remaxann.com   If you are in a situation where: • You lost your job • Your Medical Expenses are too high • Just went through/going through a divorce • You are behind on your payments • You have no equity • You can't afford the cost of selling your home • Your income has been reduced • You are in foreclosure   WE CAN HELP YOU! It's easy and doesn't cost you any MONEY! Our services are Free!!! WHEN THE DEBT EXCEEDS YOUR HOME'S VALUE... we can help is with a SHORT SALE.   Benefits of a Short Sale: • Avoid Foreclosure • Avoid Bankruptcy • Reduced damage to your credit • Postpone your foreclosure sale date • A short sale will stay on your credit approx 3 years • BE FREE of financial and emotional burdens! We are licensed... 02/08/2010

The Department of Housing and Urban Development (HUD) recently announced changes to help improve the ratio of trail loan modifications to successful permanent modifications. These changes are supposed to take effect June 1. Here's why the current process makes no sense: Under previous guidelines, homeowners were not required to document their incomes prior to receiving a trial mortgage modification.  When it came time to verify the paperwork and wade through inefficient processees, under 6% of trail modifications became permanant. Skip to the chase: The new process requires that servicers collect a formal application, a hardship letter, proof of income and a form authorizing the Internal Revenue Service to release tax data to the servicer BEFORE a trail modification is approved. Ah, les... 02/06/2010

Our partners at Bank of America provided this update on FHA Loans: Effective for loans with case numbers assigned after April 5, 2010, FHA will collect an up-front MIP (mortgage insurance premium) of 2.25% (up from the current 1.75%).  While this increase is certainly not good news, the financial impact is less than you might expect.  On a $300,000 FHA loan, for example, the increase adds $1500 to the loan balance but this increase is financed over 30 years so the increase in the actual mortgage payment is only $8.28 per month.   No one likes to pay more but it is also important that we keep the FHA insurance fund solvent.  There are other restrictions coming including tighter condominium requirements and the potential for an increase in monthly MI premiums but we will save that good ne... 02/05/2010

...or am I just being stubborn? I read that among Smartphone/PDA users, 97% of them are carrying a Blackberry or an iPhone.  That floored me because the author speculated the other apps will not be available before long.  (His timeline was in the next 5 years.) I wonder if he is right or if Google will make the same impact they did as their Internet presence.  I remember over 10 years ago in the Detective Bureau being asked why I was using Google.  EVERYONE else back there in the bullpen used Yahoo! at the time.  I said I thought Google's search returns were better and I preferred it as my search engine.  I was scoffed at by some and others - who knew me well - started using Google.  I hope I am right about this Google phone because I like it.  How many months will it be before Google ... 02/04/2010

Last summer, we had to say goodbye to my long-time assistant Kathleen so she could hit the books full time and graduate.  It paid off a few short months later when she joined PriceWaterhouseCoopers.  Before that, we met Kala and she joined the team.  She had just taken the California Bar Exam and was waiting for her exam results.  It is unusual for applicants, especially out-of-state applicants, to pass the bar on the first attempt, so I thought there was a pretty good chance she would be part of the team for a long time. Interestingly, Kathleen came to us from Red Robin, renowned as a launching pad for future corporate accountants!  We worked around her school schedule while I taught her business language and practices.  When I saw her again recently, I saw she is a completely differen... 02/01/2010

Every day, our team addresses questions related to the following the title of this article which include: 1. What are the benefits of a Short Sale vs. Foreclosure? 2. Can I short sale an investment property? (Yes) 3. Can the debt forgiven on a short sale or foreclosure be taxable income? (Yes) 4. Is it possible to have a taxable gain after a short sale or foreclosure? (Yes) 5. Can the lender come after me for a deficiency judgment after a short sale or foreclosure? (Yes) This article is intended to provide general information to provide general guidance and dispel many myths on the topics of taxability and personal liability after a short sale or foreclosure. I am a Real Estate Broker and non-practicing Certified Public Accountant, however this is not intended to be tax or legal advice ... 02/01/2010

If you have a business card without your picture on it; if you don't door knock or cold call, please join us in our Outside of the Box group.  We're working together because we are so often apart. There is NOTHING wrong with traditional real estate agents and traditional practices, it just does not fit some of us.  Some of us wear non-traditional like a favorite shirt.  Our clients love us for it, but our fellow agents and lenders don't understand us. There is no reason to practice your non-traditional ways alone now that w've got our own island on Active Rain now.  Won't you join our tribe?  Bring on the Rain! Non-Traditional Realtors and Lenders - Bring on the Rain! Another day has almost come and gone Can't imagine what else could wrong Sometimes I'd like to hide away somewhere and ... 01/30/2010

I was perusing the blogs page.  The left side of the page is chronological and you can watch your new posting disappear in a matter of seconds by hitting the "Refresh" button as other members of the community weigh in with their thoughts.  (I wonder how many posts happen in a 24 hour period?) The right side of the page are my subscriptions.  These are the blogs that I have come across that I enjoy reading the most.  I don't wait for Active Rain to feature blogs for me, I check my favorite authors and see what they have to say.  THAT is what happens when you press the SUBSCRIBE TO BLOG button on the right side of the blog entry below the picture and contact information.  You add your favorite bloggers to your blogs page.  It's pretty harmless and easy to undo.  Try it!  Click on Subscrib... 01/29/2010

News from Fannie Mae ... Fannie Mae is offering an incentive for buyers purchasing and closing on a Fannie Mae REO between January 28 and April 30, 2010. The incentive's goals are to encourage buyers to purchase REO properties and increase the sales volumes to help manage the higher levels of inventory anticipated this year. The incentive is a total of 3.5% of the final selling price comprised of: ·   Closing costs ·   The purchase of new Whirlpool® appliances by Fannie Mae ·   A mix of closing costs and appliances, at the buyer's discretion, up to the maximum 3.5% Since lenders may impose their own limitations on the use of the 3.5% incentive, buyers should consult their lenders for guidance. To be eligible for this incentive: ·  Offers must be accepted on or after January 28, 2010 ·  ... 01/28/2010

Just 100 days left-to take advantage of the first time home buyer's (FTHB)  credit.  Remember, this credit expired December 1, 2009, and then was extended at the end of last year.  The gross income qualifying levels were increased-to up to $125,000 for a single buyer or $225,000 for a couple, income based on Adjusted Gross Income (AGI).  In addition, there is now a possible $6500 credit for Sellers who have been in their home at least 2 of the last 5 years, who sell and repurchase a home of not more than $800,000!  If you are thinking of selling, after checking with your accountant or attorney to make sure you do qualify, you might want to get your home on the market ASAP, in order to be able to take advantage of this credit before it expires.  Another plus for a seller right now is tha... 01/22/2010

As if lending wasn't tight enough ... The FHA is required to maintain reserve funds at a minimum of 2% ... as of November, the agency reported that the fund had declined to .53%. In order to build funds and cover losses, the following changes will soon become policy: 1. The up-front mortgage insurance will go up from 1.75% to 2.25%. On a $300,000 loan, that's an extra $1,500. This change is expected in spring. 2. Borrowers with FICO scores below 580 will no longer qualify for the FHA's highly desirable 3.5% down payment. Instead, they will need to come up with 10% down. In addition, the maximum amount seller's may contribute to the buyer's closing costs will be reduced from 6% to 3% of the home's selling price. Both of these changes are expected in early summer. If you are an FHA buyer,... 01/21/2010

I just had the pleasure of listening to Peter E. Nordstrom,Director, Executive Vice President and President of MerchandisingNordstrom, Inc. Seattle, WA. He was our special guest today at the Prudential Ca Realty's Annual Sales rally at the Eagle Glen Golf Course in Corona. What a gentleman he is. Of course he talked about Customer Service!Isn't that what Nordstrom is known for.  When he talked about customer service, he mentioned what customer service is all about: "Use Judgment in all Situations". There were a few examples he gave of customer service. They once had refunded to a customer who walked in the shop and brought in used tires. Nordstrom does not sell tires. The manager refunded for the tires! Apparently, the man had bought the tires a while back from a tire shop. He came back... 01/20/2010

Good news for buyers and investors alike. The troublesome HUD rule banning investors from selling a property within 90 days of their purchase to an FHA buyer has been lifted for one year starting on February 1, 2010.  Of course, there are rules and exceptions. Naturally, the transaction must be "arms-length". Also, if the sales price of the property is 20% above the seller's acquisition cost, the appraisal must support the new value by providing sufficient evidence of the renovation work to substantiate the increase in value.  A second appraisal may be required.  In addition, the lender will order the home inspection (not the buyer) looking for specific issues. A buyer can still order their own inspection, but will likely wind up paying for two inspections in that case.  Despite the 20%... 01/19/2010

2009 Sales Wrap up for Anaheim Hills: Here is what happened in Anaheim Hills in 2009!  For condo sales there were a total of 187Closed sales, with another 31 condos in escrow.  Note that there were 23 more closed condo sales in  zip code 92808 than 92807.  We can also see in the Zip Code 92807, a buyer will pay almost $36 per sq. ft. less than in 92808, and that the average condo size in 92807 is 373 sq. ft. larger than 92808.. Condo Sales Back Up: 28 properties in Back Up-both zip codes Average price is $338,266, 1319 sq. ft. or $256.46 per sq. ft.   Three Pending Sales-both zip codes Average price is $423,300, 1538 sq. ft. or $276.80 per sq. ft.   77 Closed Condo Sales 92807 Average price $398,837, 1662 sq. ft, or $239.97 per sq. ft.   110 Closed Condo Sales 92808 Average price $355,7... 01/15/2010